Universal Display (NASDAQ: OLED) reported Q3 EPS of $0.28, $0.16 better than the analyst estimate of $0.12. Revenue for the quarter came in at $61.7 million versus the consensus estimate of $47.1 million.

2017 Guidance

Although the OLED industry is still at an early state where many variables can have a material impact on its growth, and the Company thus caveats its financial guidance accordingly, the Company believes that its revenues will be in the range of $310 million to $320 million for fiscal 2017.

Financial Highlights for the Third Quarter of 2017

• Total revenue increased 104% to $61.7 million in the third quarter, compared with $30.2 million in the third quarter of 2016, driven by higher material sales as well as royalty and license fees.
• Revenue from material sales increased 100% to $47.0 million in the third quarter, compared with $23.5 million in the third quarter of 2016, due to an increase in phosphorescent emitter sales.
• Revenue from royalty and license fees increased 131% to $12.0 million in the third quarter, compared with $5.2 million in the third quarter of 2016.
• Operating income increased by $18.8 million to $15.8 million in the third quarter, compared with an operating loss of $3.0 million in the third quarter of 2016.
• Net income increased by $15.0 million to $13.5 million or $0.28 per diluted share in the third quarter, compared with a net loss of $1.5 million or $0.03 per diluted share in the third quarter of 2016.

GUIDANCE:

Universal Display sees FY2017 revenue of $310-320 million.

For earnings history and earnings-related data on Universal Display (OLED) click here.